W&T Offshore, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Hurricane Remediation and Insurance Claims (Tables)

Hurricane Remediation and Insurance Claims (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Reconciliation of Approved Costs and Amounts for Payments to Hurricanes, Included in Operating Lease Expense

Below is a summary of remediation costs and amounts approved for payments related to Hurricanes Ike and Gustav that were included in lease operating expense (in thousands), with bracketed amounts representing credits to expense:


	Year Ended December 31,
	2012			2011			2010
Incurred and reversals of accruals	$	1,022		$	132		$	(1,380	)
Plus amounts returned to insurers		—			1,241			—
Less amounts approved for payment by insurers		(146	)		(1,334	)		(10,350	)

Included in lease operating expenses	$	876		$	39		$	(11,730	)

Reconciliation of Insurance Receivables

Below is a reconciliation of our insurance receivables (in thousands):


Balance, December 31, 2011	$	715
Costs approved under our insurance policies, net		2,221
Payments received, net		(2,936	)

Balance, December 31, 2012	$	—

- Definition

Tabular disclosure of business interruption insurance recoveries. This may include the nature of the event resulting in business interruption losses, the aggregate amount of business interruption insurance recoveries recognized during the period, and the line item(s) in the statement of operations in which those recoveries are classified (including amounts reported as an extraordinary item).

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